So, it finally happened. A leading American politician has said aloud what many have whispering: it’s time to break up Big Tech. Democratic presidential candidate Elizabeth Warren just fired the opening salvo and called for the federal government to take action: “Today’s big tech companies have too much power— too much power over our economy, our
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The tech industry is already under siege by the press, the public, and regulators around the world. But on Friday, Democratic presidential candidate Elizabeth Warren lobbed a bomb onto that battlefield, designed to crack the fortresses that have formed around tech monopolies like Google, Facebook, and Amazon. In a Medium post, the US senator from
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The world’s largest telecommunications-equipment company, China’s Huawei, is suing the US government. But the suit isn’t just about US law. It’s part of Huawei’s larger campaign to defend its role as a global provider of telecom gear amid fears that its technology is or could be used by the Chinese government for spying. In essence,
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Bristol-Myers Squibb CEO Giovanni Caforio defended his company’s $74 billion bid for cancer drug maker Celgene in an interview with CNBC’s Jim Cramer on Wednesday. The move is facing opposition from the Wellington Management, Bristol-Myers’ largest stakeholder, and Starboard Value hedge funds. The acquisition, which will be voted on my shareholders next week, would add
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Chinese electronics giant Huawei is preparing to sue the United States government for barring federal agencies from using its telecommunications equipment. The lawsuit is expected to challenge the law on the basis that it singles out a person or group for punishment without a trial, which the US Constitution prohibits. Meanwhile, Huawei’s chief financial officer,
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Last March, Twitter CEO Jack Dorsey admitted that, despite the company’s intentions, Twitter wasn’t the best at encouraging productive or meaningful conversations among users. More often, the platform served to further abuse, harassment, and the spread of misinformation, while plunging users deeper into echo chambers. The solution, Dorsey said, was to shift from banning the
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Tesla will unveil its Model Y SUV on March 14, CEO Elon Musk said in a series of tweets Sunday . Musk said that the SUV would cost 10 percent more than Tesla’s Model 3 sedan and have “slightly less range” for the same battery. The tweets may exacerbate Musk’s clash with the Securities and
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On the latest episode of Recode Decode, News Media Alliance CEO David Chavern joined Recode’s Kara Swisher in studio to talk about the challenges facing the thousands of print and online media businesses that the NMA represents — and possible solutions. One of Chavern’s jobs is talking to big platforms like Google and Facebook, but
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Just before the Civil War, and long before the Federal Reserve, the United States had 8,000 kinds of money. It was a chaotic, confusing time to buy your groceries. Private banks issued notes with the promise of backing in gold and silver, but their actual value was anybody’s guess. Soon other companies—drug stores, coal mines,
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A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in 49.9 for February. Economists polled by Reuters had expected the Caixin PMI reading to edge up to 48.5 in February from January’s 48.3. A reading below
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Last year, Seattle’s city council repealed a tax on big employers less than a month after approving the legislation designed to raise funds to support homeless programs. The quick reversal came after Amazon, which employs around 45,000 people in the city, halted the construction of a new building and threatened to not occupy space it
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President Trump’s immigration policies have made it harder for tech companies to bring highly skilled workers to the US, according to newly released immigration data. That’s bad news for US tech companies as well as non-tech companies, which rely on third-party outsourcing companies to execute the growing technology sides of their businesses. It could also
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